Global Algae Oil Market 2017-2021

Overview of the global algae oil market

Research analysis on the global algae oil market identifies the increasing support from the governments of various countries towards the production and application of algae oil as one of the major factors for the market's growth. With the growing demand for cleaner fuels that emit lesser levels of greenhouse gases, the governments are increasingly supporting the production of biofuels. The has already introduced the US Energy Policy Act in 2005 that offers various incentives such as grants, income tax credits, subsidies, and loans to support R&D activities on biofuel. Similarly, the government's Energy Independence and Security Act of 2007 also included different economic incentives. The governments of countries such as the US, Brazil, China, India, Canada, and the European Union are already funding algae R&D collaboratives at universities, public-private partnerships, and pilot and prototype-stage endeavors. With government R&D and the support for deployment and commercialization expanding to the other countries across the globe, the demand for algae oil will subsequently increase in the coming years. Technavio's market research analysts predict that this market will generate a revenue of more than USD 1.7 billion by 2021.

The growing demand for naturally obtained health supplements will be one of the latest trends that will gain traction in the algae oil market during the next four years. The rising demand for naturally obtained supplements greatly impacts the demand for plant-based health supplements. This will induce manufacturers to prefer algae oil to manufacture supplements, in turn, driving the market's growth prospects.

Competitive landscape and key vendors

Owing to the presence of several large and small-scale vendors, this market appears to be highly fragmented. With the rising competition, the players are focusing on maintaining an affordable pricing structure, integrated supply chain, and product quality differentiation. Moreover, algae oil manufacturers are also focusing on launching new products and entering strategic alliances such as M&A.

The leading vendors in the market are -

• Algae Floating Systems
• Cellana
• Henry Lamotte OILS
• TerraVia Holdings

The other prominent vendors in the market are Algaecytes, Archer Daniels Midland Company, Goerlich Pharma, Polaris, and Renewable Algal Energy (RAE).

Segmentation by application and analysis of the algae oil market

• Biofuels
• Animal feeds

During 2016, the biofuels segment accounted for the major shares of this market. The demand for biofuel is increasing due to the rising crude oil prices, environmental and sustainability issues, and national energy security. This will demand the need for algae oil since it can be easily converted into biodiesel using transesterification reaction.

Geographical segmentation and analysis of the algae oil market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market till 2021. The increasing demand for algae oil in the biofuel and food and beverage industries will be the major factors augmenting the market's growth prospects in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global algae oil market?
• What are the key market trends impacting the growth of the global algae oil market?
• What are the challenges to market growth?
• Who are the key vendors in the global algae oil market?
• What are the market opportunities and threats faced by the vendors in the global algae oil market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global algae oil market? 

Technavio also offers customization on reports based on specific client requirement.

This market research report on the global algae oil market is a crucial part of Technavio's food and beverage industry and offers insights into the market space for the food sector. Technavio's market  research reports present insights on the market share and size, forecast, major trends, and industry analysis to help clients build robust strategies.

Technavio's analysts follow an in-depth market research approach of quantitative and qualitative data collection methods and assess the shifting paradigm of the demand-supply landscape for the food sector. This market research report on the global algae oil market offers major insights into the influencing market trends, drivers, and imperative challenges that will affect the growth of this market in focus.

This market research report on the global algae oil market also takes into account the growth of related markets like avocado oil, which is expected to show a hike  of an impressive CAGR of more than 13% by 2021. The upcoming industry report on the global algae oil market also offers insights into rapidly evolving segments of food and beverage industry, including sectors like food service. Additionally, the report also presents insights into the changing competitive landscape and gives clients an accurate picture of the future direction of the  food and beverage industry.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.